67Nature of share in co-operative

67 Nature of share in co-operative

Division 2 Disclosure requirements for distributing co-operatives

68 Registration of current disclosure statement

69 Restrictions on advertising and publicity

70 Disclosure to intending shareholders in distributing co-operative

71 Exemptions from disclosure statements

Division 3 Compensation for defective disclosure

72 Contravention leading to right to recover for loss or damage

73 Right to recover for loss or damage resulting from contravention

74 Due diligence defence

75 General defences

Division 4 Issue of shares

76 Shares—general

77 Minimum number of shares to be subscribed for

78 Minimum paid up amount

79 Shares not to be issued at a discount

80 Issue of shares at a premium

81 Joint ownership of shares

82 Members may be required to take up additional shares

83 Bonus share issues

84 Restrictions on bonus shares

85 Notice about bonus shares

Division 5 Provisions applying to particular share subscriptions

86 Definition

87 Application of this Division

88 Application money to be held on trust

89 Minimum subscription condition must be fulfilled before issue or transfer

90 Repayment of money if disclosure statement condition not met

Division 6 Disclosure and registration of interests in shares

91 Direction to disclose

92 Disclosure by member of relevant interests and instructions

93 Registration as trustee, executor or administrator on death of owner of shares

94 Registration as administrator of estate on incapacity of shareholder

95 Registration as Official Trustee in Bankruptcy

96 Liabilities of person registered as trustee or administrator

97 Notice of trusts in register of members

98 No notice of trust except as provided by this Division

Division 7 Sale or transfer of shares

99 Sale or transfer of shares

100 Sale or transfer of shares to be subject to rules

101 Transfer not effective until registered

Division 8 Transfer of shares and other interests on death of member